Amid a sluggish external environment, robust domestic demand supported economic activity in Q1 2023 despite high inflation and rising interest rates. The healthy labor market, adequate liquidity, and increased...
Merchandise exports posted its largest contraction in February 2023 since May 2020 amid continued weakness in external demand, which weighed on the growth of manufacturing activity. Headline inflation...
Headline inflation inched down marginally, although food prices remain persistently high, while core inflation continued to accelerate. Merchandise exports declined in January, amid a weak, yet improving...
Headline inflation rose to a new 14-year high in December, driven by higher food prices. Core inflation continued to rise, underscoring existing price pressures and the release of pent-up demand. Despite...
Headline inflation accelerated in September driven by higher food and energy prices. In addition, core inflation remained elevated, indicating continuing price pressures and strong domestic demand. Robust...
Headline inflation marginally eased in August following five consecutive months of increases. However, core inflation rose further, which is indicative of underlying price pressure and strong domestic...
The Russia-Ukraine war has rattled investor sentiment, immediately impacting the local stock and foreign exchange markets. While inflation remained steady in February, fuel prices have further risen prompting...
The economy sustained its growth performance in Q4 2021, ending with a full-year growth of 5.6 percent. This positive news, along with the rapid decline in COVID-19 cases following an Omicron-led surge...
Typhoon Odette devastated Central Philippines in late December, resulting in damages in infrastructure and agriculture, and disruption in vaccination efforts. COVID-19 cases have surged again due to the...
The vaccination rate accelerated in early December following the successful 3-day national vaccination drive. The authorities further loosened mobility restrictions as daily cases continued to decline...
COVID-19 (coronavirus) cases in the Philippines appeared to have peaked in September. Vaccination rate has reached 80 percent of the adult population in Metro Manila by mid-October, in contrast to about...
COVID-19 (coronavirus) cases have reached new highs due to the more transmissible Delta variant. The authorities in turn announced stricter quarantine measures in key metropolitan areas. The new mobility...
COVID-19 (coronavirus) cases in the Philippines have surged since mid-July amid the local transmissions of the highly infectious Delta variant. The authorities responded by re-imposing enhanced community...
COVID-19 cases in the Philippines appeared to have stabilized in June, albeit at a higher level compared to early 2021. Lower infections in Metro Manila have been offset by higher numbers in the provinces...
COVID-19 (coronavirus) has taken a heavy economic and human toll globally and in Indonesia. According to official statistics, over 3.8 million people have died from COVID as of May 2021. The global economy...
Manufacturing output and external trade expanded year-on-year in April on the back of favorable base effects. On a monthly basis, however, external trade contracted double-digit from its expansion in March...
The Philippines remained in recession in the first quarter of 2021, driven by the contraction in household consumption and investment. Nevertheless, relative to the previous three quarters, the economy...
Rising COVID-19 (coronavirus) cases and the return to more restrictive quarantine measures continued to dampen market sentiments. Manufacturing output and exports contracted in February, while the stock...
Mobility restrictions continued to dampen domestic activity, with total net job losses reaching 1.3 million between January 2020 and January 2021. Domestic demand remains muted, resulting in the contraction...
This Philippines monthly economic developments newsletter for February 2021 includes the following information: the Philippines recorded its worst recession in post-war history as the economy contracted...